Killi kicks off drilling at Rocky gold project, eyes two new targets

Killi Resources has started drilling at the Rocky prospect, where it’s exploring for intrusive-related gold systems (IRGs) in the highly prospective Charters Towers-Ravenswood district in Northern Queensland.

The program will test the geophysical targets similar in signature to gold deposits 43km along strike (Mt Wright and Ravenswood Gold Mines) with five Reverse Circulation (RC) drillholes and two diamond drill (DD) core tails for ~1,300m planned.

This follows the first five drillholes completed at the prospect in December 2022 which returned 1m at 3.22g/t Au from 105m, 2m at 1.58g/t Au from 177m, and 7m at 0.77g/t from 177m.

The company says the results suggest the Rocky prospect to be geologically comparable to Ravenswood gold mine mineralisation with gold in quartz veins within a granodiorite.

Testing two intrusive targets

Killi Resources (ASX:KLI) CEO Kathryn Cutler said they are very excited to be back out at Rocky with two targets to test.

“The drill program has been designed from the results of the processing of the VTEM geophysics which has identified two distinct intrusive targets,” she said.

“The first holes completed last year demonstrate we are within a gold mineralised system.

“This program is designed to further test the specific traps for gold mineralisation with the granodiorite.

“The drill program has commenced, and we look forward to reporting the results in the coming months.”

IRG deposits common in the region

In Queensland IRGs are a common style of gold mineralisation, with 12 IRG deposits in Northern Queensland greater than 1Moz.

And within 60km of Rocky there are seven IRG deposits, which combined, host 28Moz of gold endowment.

“These gold deposits all form under similar conditions and have a distinct appearance and all exist within an intrusive complexes,” the company says.

“All gold camps within the region are slightly different, however once you find a gold mineralised intrusive it becomes a matter of finding the localised concentration of the gold, either within quartz veins or a mineralised intrusive.”

This article was developed in collaboration with Killi Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.